Internet 'is useful for landlords'

News Category: Marketing

While using the internet to find tenants can be easier and cheaper for landlords than using a traditional letting agent, there are some risks to the tactic, an expert has warned.

The Residential Landlords Association's (RLA) director, Alan Ward, explained that using sites like gumtree and spareroom was increasingly popular for landlords looking to cut out letting agents.

"If the landlord's fluent in the web, why not [use these sites]? It adds to the mix… [and] it could be cheaper than going to an agent," Mr Ward commented.

"It enables you to present properties to tenants who are perhaps moving into an area, and don't know where to go.

"From a landlord's point of view, it also allows you to make comparisons on where to fix your rent - it's a very useful [tool] for research."

He pointed out that the risks of picking tenants from the internet carried the same risks as when selecting anyone to live in a property.

"You need to be taking a reference from their previous landlord as to why they're leaving, you want National Insurance Numbers, names of their employers," he explained.

"And, as a prudent landlord you get used to making judgements about people - that's what the business is about."